(2) Notwithstanding any other provision of law, an individual who permanently loses the services of a vessel through capsizing, sinking, fire, collision or other catastrophic accident has a period of two years from the date of loss to replace the vessel without losing eligibility to renew the vessel permit. [1979 c.613 §4; 1981 c.43 §5; 1987 c.912 §1; 1995 c.602 §10; 2007 c.768 §8]